The NZDUSD pair declined strongly in the previous sessions after failing to consolidate above 0.6290 level, to hint the attempt to return to the correctional bearish track again, but it faces solid base at the bullish channel’s support line that appears on the chart, accompanied by witnessing positive signals through stochastic.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaking 0.6200 will press on the price to achieve additional decline that targets 0.6140 areas initially, while consolidating above it represents the key to resume the bullish wave that its targets begin by testing 0.6290 again.
The expected trading range for today is between 0.6140 support and 0.6270 resistance
The expected trend for today: Neutral
Origin: Economies
